Nakilat's wholly owned subsidiary Nakilat Inc. has arranged refinancing worth US $917 million with Qatar National Bank

Doha, June 11th, 2013

Nakilat Inc., a wholly owned subsidiary of Qatar Gas Transport Company Ltd. (Nakilat), has successfully arranged refinancing amounting to US $917 million with Qatar National Bank SAQ (QNB).

Nakilat Inc. established its Program Financing structure to fund the construction of a fleet of 25 LNG vessels, each of which is subject to a 25-year time charter. These vessels serve as part of the floating pipeline carrying LNG for Qatargas and RasGas, which together produce over 77 MTA of LNG.

On the occasion of successfully completing the financing, Muhammad Ghannam, Managing Director of Nakilat, said: "This transaction once again demonstrates our outstanding capability to attract large amounts of financing expediently and efficiently. This refinancing with QNB reinforces Nakilat's already exceptional reputation in the financial community. The strong relationship between these two Qatari companies is a natural fit with Nakilat as the world's largest LNG shipping company and QNB as one of the strongest banks in the world."

Latham & Watkins advised Nakilat on commercial and legal matters related to the refinancing, while Skadden, Arps, Slate, Meagher & Flom advised QNB.

Nakilat is a Qatari marine company providing the critical transportation link in Qatar's LNG supply chain. Its LNG shipping fleet is the largest in the world, comprising 54 LNG vessels. Nakilat also manages and operates four LPG carriers. Via two strategic joint ventures, N-KOM and NDSQ, Nakilat operates the ship repair and construction facilities at Qatar's Erhama Bin Jaber Al Jalahma Shipyard in the Port of Ras Laffan. For more information visit: www.nakilat.com.qa.

Qatar National Bank (QNB Group) was established in 1964 as the country's first Qatari-owned commercial bank, has an ownership structure split between the Qatar Investment Authority (50%) and the private sector (50%). QNB Group has steadily grown to be the largest bank in the Middle East and North Africa Region and is by far the leading financial institution in the country with a market share exceeding 45% of banking sector assets. Bloomberg Markets, the leading provider of Business, Financial and Economic news has ranked QNB as the World's Strongest Bank in its 2012 ranking. The 78 banks in Bloomberg's ranking list included some of the largest and most renowned financial institutions in the world, with QNB being the only bank from the MENA Region. QNB Group is among the highest rated regional banks from leading credit rating agencies including Standard & Poor's (A+), Moody's (Aa3), Fitch (A+), and Capital Intelligence (AA-). The Bank has also been the recipient of many awards from leading international specialized financial publications. Based on the Group's continuous strong performance and the expanding international presence, the bank is currently ranked as the most valuable brand in the MENA region, with a current world ranking of 120 in 2013.

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For more information please contact
Rebecca Watson
Communications Specialist
4499 8111
rwatson@qgtc.com.qa

© Press Release 2013